If, instead, you can translate 1,000 words an hour, then you’re up to $100 an hour.

That’s a little more worth your time.

And once you know your hourly rate, it’s easy to look at a potential project from a client and tell them how much it will cost them up front.

Even if that project includes things in addition translation.

Why?

Because you already know how long it will take you to accomplish all the tasks related to your translation work.

One of the pluses in charging by the project is that you can adjust the rate based on external factors, like the difficult of the source language.

You don’t have to worry about clients not understanding why you charge $0.10 a word for one document, but then you want to charge $0.12 a word for a different one that requires the same language combination.

Here’s the process a typical translator goes through when quoting a price to a client using word-count methods.

Clients contacts translator about translation work.

Translator asks for word count of project, as well as and idea of subject matter

Client informs translator of word count

Translator quotes a price (which is based on word count)

The client now knows exactly what the translator charges per word

Client tries to negotiate with translator on price based off the price per word

Translator is in a losing position and can only negotiate price per word

This is a bad position to be in.

The translator should have more power than the client because the client is the one that needs the project done.

Once you’ve given away your pricing structure (which is only based on one thing), you’ve lost negotiating power.

However, charging by the project changes that.

Instead of quoting based on word count, you quote on the entirety of the project.

You say, “In looking at this project, and it’s various complexities, my price is $2,000.”

Sure, the client can try and negotiate the price, but if he does, and you feel like negotiating back, you can base your numbers on something other than price per word.

Instead, you could deliver the project at a later date, which could cost less.

You could include zero formatting.

You could deliver it without being notarized.

As a translator, you provide a level of service to your clients.

Some translators provide better overall service than other translators.

Instead of basing your pricing on a single thing like word count, base it on the whole of the service you can provide.

And if a client wants to pay less, instead of lowering your price per word translated, you would lower the overall level of service you provide to that client.

You could even set up tiers of service based on what you can offer a client.

Tier 1 would be the most expensive and offer the most personalized services to your client.

Tier 2 would include most services, but not all.

And Tier 3 would be an economized service, intended to save the client money while not tying you down to provide the best service.

If you presented these three options to a client when they requested your language services, along with their relevant prices, you would no longer be in the weak position.

Your client would see that he has the option to choose from a range of prices, that you’ve already given him (and are comfortable with).

There would be no more negotiation because you’ve already provided the negotiated options.

And before you say that translators have always charged by the word, rest assured. Charging by the project is not an an outlier.

Other translators are starting to see the benefit as well.

Even though they are still stuck with the idea that for some reason translators have to charge by word.

This lady admitted to doubling her word rate when charging by the project.

But then admits that “I’m definitely more for per word quoting than per hour.”

Huh?

Why is that?

Why would you choose to earn less money when you’ve already proved that you can earn more money, just by changing your pricing structure?

So if you’re a translator, it’s time to start looking at how you price your work.